Fix & Flip Loan for House in Indialantic, Florida

Funded by i Fund Cities

Indialantic, FL

$464,000

Single Family Residence

Residential Fix and Flip

09/07/2021
Transaction by
i Fund Cities
PURCHASE PRICE: $470,000
REHAB BUDGET: $88,000
AFTER-REPAIR VALUE (ARV): $720,000
LOAN-TO-COST (LTC): 83%

This i Fund Cities client is a successful fix and flip investor doing beautiful remodels in a cool beach town on the eastern Florida coast. The company was reaching their loan capacity with their current private lender. They needed a new lender option that would allow them to keep their business growing and thriving. The client found i Fund Cities through Instagram. When they called and told us about their goals, and showed us the work that had done, we were able to provide them funding to complete two of their projects.

The KEY LOAN BENEFIT to the borrower was that not only did we help them complete their current projects, we are excited to grow with them by allowing them to originate loans with us up to $25 million. (Now, there’s a sunny growth curve!)